Ashton Thomas Private Wealth LLC Invests $325,000 in Brookfield Renewable Co. (NYSE:BEPC)

Ashton Thomas Private Wealth LLC bought a new position in shares of Brookfield Renewable Co. (NYSE:BEPC) in the fourth quarter, Holdings Channel reports. The fund bought 11,741 shares of the company’s stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BEPC. Parnassus Investments LLC raised its stake in Brookfield Renewable by 3.7% in the third quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock valued at $87,125,000 after purchasing an additional 94,710 shares in the last quarter. CIBC Asset Management Inc raised its stake in Brookfield Renewable by 26.0% in the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after purchasing an additional 504,060 shares in the last quarter. Robeco Schweiz AG acquired a new position in Brookfield Renewable in the fourth quarter valued at about $55,680,000. Geode Capital Management LLC raised its stake in Brookfield Renewable by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock valued at $40,633,000 after purchasing an additional 25,558 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Brookfield Renewable by 1.4% in the third quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock valued at $37,444,000 after purchasing an additional 16,033 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BEPC shares. Wells Fargo & Company dropped their price target on Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $28.33 on Wednesday. Brookfield Renewable Co. has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $27.06 and its two-hundred day moving average price is $29.26. The stock has a market cap of $4.11 billion, a PE ratio of -31.84 and a beta of 1.20.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s payout ratio is -167.42%.

Brookfield Renewable Profile

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.